Judy Owns a 20% Interest in a Partnership (Not Real

question 36

True/False

Judy owns a 20% interest in a partnership (not real estate) in which her at-risk amount was $35,000 at the beginning of the year. The partnership borrowed $50,000 on a recourse note and made a $40,000 profit during the year. Her at-risk amount at the end of the year is $43,000.

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Definitions:

Horizontal Axis

A line or scale in a chart or graph that runs horizontally, usually representing the independent variable in a dataset.

Switch Row/Column Command

A function in spreadsheet software that allows the user to switch the positions of rows and columns, often used for better data visualization.

Vertical Axis

The y-axis in a chart or graph, typically displaying numerical values that are measured against the horizontal axis.

Axis Titles

Labels used in graphs and charts to describe the data represented by the X-axis and Y-axis.